Zhang Financial LLC Purchases 5,284 Shares of AbbVie Inc. (NYSE:ABBV)

Zhang Financial LLC boosted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 27.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,214 shares of the company's stock after purchasing an additional 5,284 shares during the period. Zhang Financial LLC's holdings in AbbVie were worth $5,073,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of ABBV. Norges Bank bought a new stake in shares of AbbVie in the 4th quarter worth approximately $4,459,385,000. GAMMA Investing LLC grew its position in shares of AbbVie by 25,841.6% in the 1st quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock worth $2,144,382,000 after buying an additional 10,195,284 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of AbbVie in the 4th quarter worth approximately $1,190,951,000. FMR LLC grew its position in shares of AbbVie by 32.8% in the 4th quarter. FMR LLC now owns 18,097,375 shares of the company's stock worth $3,215,903,000 after buying an additional 4,466,971 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock worth $4,875,401,000 after buying an additional 3,599,336 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ABBV shares. Evercore ISI lifted their price objective on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Bank of America lifted their price objective on AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday. The Goldman Sachs Group restated a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Finally, Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and a consensus target price of $211.29.

AbbVie Stock Up 0.4%

AbbVie stock traded up $0.77 during mid-day trading on Thursday, hitting $192.27. The company had a trading volume of 5,775,647 shares, compared to its average volume of 6,238,863. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock's 50 day moving average price is $183.78 and its two-hundred day moving average price is $187.32. AbbVie Inc. has a 12 month low of $163.52 and a 12 month high of $218.66. The company has a market capitalization of $339.63 billion, a PE ratio of 80.11, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the previous year, the company posted $2.31 earnings per share. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares of the company's stock, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.25% of the company's stock.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.